30 Oct 2019 10:23
Walcom Group Ltd - Trading UpdateWalcom Group Ltd - Trading Update
PR Newswire
London, October 30
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
30 October 2019
WALCOM GROUP LIMITED(“Walcom” or “the Company”)
Trading Update
Walcom announces that, as a result of improved trading conditions, the Company now expects to be able to meet its liabilities as they fall due until the end of November 2019.
The Company is in discussions with Mr Francis Chi, Chief Executive of the Company, regarding the provision of further funding in order to provide additional liquidity to the Company. Whilst the Board is hopeful that these discussions will have a successful outcome, there can be no guarantee that the Company’s working capital position will be stabilised. In the event that it is unable to address the working capital shortfall, the Company may be unable to continue its operations and may be forced into liquidation with a consequential diminution in value to shareholders.
Further announcements will be made in due course.
Further enquiries:
| Walcom Group Limited Francis Chi (Chief Executive Officer/Chief Financial Officer) Jessie Chan (Deputy Chief Financial Officer) | +852 2494 0133 |
| Allenby Capital Limited (Nominated Adviser and broker) Virginia Bull / Asha Chotai | +44 20 3328 5656 |